BDL:SESGL

Stock Analysis Report

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Executive Summary

SES S.A. provides satellite and ground infrastructure solutions worldwide.


Snowflake Analysis

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has SES's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SESGL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.9%

SESGL

0.6%

LU Media

6.8%

LU Market


1 Year Return

-57.9%

SESGL

-26.6%

LU Media

-36.0%

LU Market

Return vs Industry: SESGL underperformed the Luxembourg Media industry which returned -26.6% over the past year.

Return vs Market: SESGL underperformed the Luxembourg Market which returned -36% over the past year.


Shareholder returns

SESGLIndustryMarket
7 Day-2.9%0.6%6.8%
30 Day-3.0%0.2%4.6%
90 Day5.3%8.0%13.2%
1 Year-55.7%-57.9%-25.0%-26.6%-33.6%-36.0%
3 Year-65.9%-70.5%-37.6%-44.8%-46.0%-51.7%
5 Year-72.5%-78.5%-38.8%-50.1%-53.7%-61.9%

Price Volatility Vs. Market

How volatile is SES's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is SES undervalued compared to its fair value and its price relative to the market?

12.02x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SESGL (€5.97) is trading above our estimate of fair value (€4.03)

Significantly Below Fair Value: SESGL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SESGL is good value based on its PE Ratio (12x) compared to the XE Media industry average (12.7x).

PE vs Market: SESGL is good value based on its PE Ratio (12x) compared to the Luxembourg market (24.1x).


Price to Earnings Growth Ratio

PEG Ratio: SESGL is poor value based on its PEG Ratio (7.6x)


Price to Book Ratio

PB vs Industry: SESGL is good value based on its PB Ratio (0.4x) compared to the XE Media industry average (1.2x).


Next Steps

Future Growth

How is SES forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SESGL's forecast earnings growth (1.6% per year) is below the savings rate (1.6%).

Earnings vs Market: SESGL's earnings (1.6% per year) are forecast to grow slower than the Luxembourg market (21% per year).

High Growth Earnings: SESGL's earnings are forecast to grow, but not significantly.

Revenue vs Market: SESGL's revenue (0.9% per year) is forecast to grow slower than the Luxembourg market (5.4% per year).

High Growth Revenue: SESGL's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SESGL's Return on Equity is forecast to be low in 3 years time (2.9%).


Next Steps

Past Performance

How has SES performed over the past 5 years?

-19.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SESGL has a large one-off loss of €120.0M impacting its March 31 2020 financial results.

Growing Profit Margin: SESGL's current net profit margins (11.4%) are higher than last year (10.8%).


Past Earnings Growth Analysis

Earnings Trend: SESGL's earnings have declined by 19.6% per year over the past 5 years.

Accelerating Growth: SESGL's earnings growth over the past year (3.7%) exceeds its 5-year average (-19.6% per year).

Earnings vs Industry: SESGL earnings growth over the past year (3.7%) exceeded the Media industry 2.5%.


Return on Equity

High ROE: SESGL's Return on Equity (4.1%) is considered low.


Next Steps

Financial Health

How is SES's financial position?


Financial Position Analysis

Short Term Liabilities: SESGL's short term assets (€1.9B) exceed its short term liabilities (€1.7B).

Long Term Liabilities: SESGL's short term assets (€1.9B) do not cover its long term liabilities (€5.2B).


Debt to Equity History and Analysis

Debt Level: SESGL's debt to equity ratio (70.8%) is considered high.

Reducing Debt: SESGL's debt to equity ratio has reduced from 128.5% to 70.8% over the past 5 years.

Debt Coverage: SESGL's debt is well covered by operating cash flow (25.6%).

Interest Coverage: SESGL's interest payments on its debt are not well covered by EBIT (2.8x coverage).


Balance Sheet


Next Steps

Dividend

What is SES current dividend yield, its reliability and sustainability?

6.70%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SESGL's dividend (6.7%) is higher than the bottom 25% of dividend payers in the Luxembourg market (2.72%).

High Dividend: SESGL's dividend (6.7%) is in the top 25% of dividend payers in the Luxembourg market (5.44%)


Stability and Growth of Payments

Stable Dividend: SESGL's dividend payments have been volatile in the past 10 years.

Growing Dividend: SESGL's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80.6%), SESGL's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SESGL's dividends in 3 years are forecast to be covered by earnings (63.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Steve Collar (50 yo)

2.33yrs

Tenure

Mr. Steve Collar has been the President and Chief Executive Officer of SES SA since April 5, 2018. Mr. Collar has served as Chief Executive Officer of SES Networks at SES Techcom S.A. since 2011. Mr. Colla ...


Leadership Team

NamePositionTenureCompensationOwnership
Steve Collar
CEO & President2.33yrsno datano data
Sandeep Jalan
Chief Financial Officer0.25yrno datano data
Ruy Pinto
Chief Technology Officer1.58yrsno datano data
Richard Whiteing
VP & Head of Investor Relationsno datano datano data
Thai Rubin
Chief Legal Officer0.083yrno datano data
Christine Leurquin
Vice President of Institutional Relations & Communicationsno datano datano data
Evie Roos
Chief Human Resources Officer3.5yrsno datano data
Deepak Mathur
Senior Vice President of Commercial8.67yrsno datano data
Elias Zaccack
Senior Vice President of Commercial Americasno datano datano data
Gerald Oberst
Senior Vice President of Global Regulatory & Governmental Strategy7.83yrsno datano data
Christophe De Hauwer
Chief Strategy & Development Officerno datano datano data
Christoph Muhleib
Managing Director of Astra Germany and Vice President of Sales & Marketing for Dach Region3.92yrsno datano data

2.9yrs

Average Tenure

53yo

Average Age

Experienced Management: SESGL's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
René Steichen
Honorary Chairman5.67yrsno datano data
Kathrin Wehr-Seiter
Independent Director5.58yrsno datano data
Ramanarayan Potarazu
Independent Director6.5yrsno datano data
Tsega Gebreyes
Independent Vice-Chairperson of the Boardno datano datano data
Frank Esser
Independent Chairman of the Board0.33yrno datano data
Françoise Thoma
Non Independent Director4.17yrsno datano data
Serge Allegrezza
Non Independent Director10.5yrsno datano data
Anne-Catherine Ries
Non Independent Vice-Chairperson of the Boardno datano datano data
Beatrice de Clermont-Tonerre
Independent Director0.33yrno datano data
Kaj-Erik Relander
Independent Director3.33yrsno datano data
Paul Konsbruck
Non-Independent Director1.17yrsno datano data
Peter van Bommel
Independent Director0.33yrno datano data

3.8yrs

Average Tenure

54.5yo

Average Age

Experienced Board: SESGL's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

SES S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SES S.A.
  • Ticker: SESGL
  • Exchange: BDL
  • Founded: 1985
  • Industry: Cable and Satellite
  • Sector: Media
  • Market Cap: €2.823b
  • Shares outstanding: 455.44m
  • Website: https://www.ses.com

Number of Employees


Location

  • SES S.A.
  • Château de Betzdorf
  • Betzdorf
  • Grevenmacher
  • 6815
  • Luxembourg

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SESGENXTPA (Euronext Paris)YesFIDUCIARY DR EACH REP 1 'A' SHS NPVFREURJul 1998
SESDB (Deutsche Boerse AG)YesFIDUCIARY DR EACH REP 1 'A' SHS NPVDEEURJul 1998
SESGLBDL (Bourse de Luxembourg)YesFIDUCIARY DR EACH REP 1 'A' SHS NPVLUEURJul 1998
SGBA.FOTCPK (Pink Sheets LLC)YesFIDUCIARY DR EACH REP 1 'A' SHS NPVUSUSDJul 1998
0M6PLSE (London Stock Exchange)YesFIDUCIARY DR EACH REP 1 'A' SHS NPVGBEURJul 1998
SESGPBATS-CHIXE (BATS 'Chi-X Europe')YesFIDUCIARY DR EACH REP 1 'A' SHS NPVGBEURJul 1998
SESG NBMV (Bolsa Mexicana de Valores)YesFIDUCIARY DR EACH REP 1 'A' SHS NPVMXMXNJul 1998

Biography

SES S.A. provides satellite and ground infrastructure solutions worldwide. The company offers content management comprising of content storage, content processing, video on demand content delivery, metadat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/05 21:03
End of Day Share Price2020/08/05 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.